Luminii provides CDD support to Octopus Ventures on their investment in Switchee

15 Jul 2024 /

Luminii are delighted to have provided Commercial Due Diligence support to Octopus Ventures on their investment in Switchee, a social housing technology provider.

Switchee provides tens of thousands of high-tech devices to over 130 social housing providers, helping keep homes warm, safe and sustainable for residents. This includes helping identify and prevent mould in homes, lowering heating bills by up to 17%1, and improving communications between residents and providers through a two-way platform that sees an 88% tenant response rate within 24 hours.2

This new investment will further accelerate Switchee's growth and see the business remain on the trajectory to be installed in 1 million UK social homes. Switchee will continue to serve housing providers with the richest, real-time data set in social housing, driving a new operating model in the sector with the proactive detection of mould or residents at risk of fuel poverty.

Advancements will also be made in Switchee's Trusted Installer Network, unlocking the supply chain, and deploying Switchee devices at scale through government-funded initiatives such as the Social Housing Decarbonisation Fund (SHDF). In addition, the business remains committed to being the leading technology B-Corp in social housing, and will continue to invest in R&D to cut its environmental impact.

"Luminii are delighted to have supported Octopus on this transaction. This is yet another deal that helps to further strengthen our credentials in the Technology, smart meters, insights and social housing sectors. We wish Octopus and Switchee continued success for the future." - Lushani Kodituwakku, Managing Director, Luminii Consulting

1 Independently verified by National Energy Action.
2 Average response rate based on regular surveys covering residents with Switchee devices installed in their homes.

 

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  • We engaged Luminii for Commercial Due Diligence support on one of our recent investments and we were highly impressed with their high-quality report, professionalism, and flexibility. Luminii were able to address our key questions and due diligence requirements against a tight deadline. They conducted a robust primary research programme, consisting of referencing and surveys and we appreciated their timely updates throughout our engagement. Luminii's team is highly collaborative, showcased by how they worked with us as well as the Management team, other advisors, and our lenders, which we appreciated. We would not hesitate to recommend their services and look forward to working with them again in the future.

    Global Private Equity Firm with €20 Billion Assets Under Management

  • To date, the Luminii team have supported us on over 20 deals. They have consistently delivered high quality CDD reports, always against tight deadlines and to above expectation. They offer good value for money. Luminii are quick to understand our needs, offer sound advice and support on complex topics. Their ability to tailor the scope to our needs, focus on the core issues of each project and not being afraid to give their opinion backed by sound research and analysis is a great benefit to us. I would recommend their services without hesitation.

    Private Equity Firm with £4 billion Assets Under Management

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    Luxury Product Manufacturer & Retailer

  • The Luminii team did an excellent job of covering the project objectives set & provided us with invaluable research & information that helped us with our business direction & decisions. They understood our business needs and were thorough, diligent, and offered sound advice. We have since progressed well with market entry & have moved forward with one of their contacts who is now running our office in the target market in Spain. We would certainly recommend them to other businesses looking for support!

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